Want to read Slashdot from your mobile device? Point it at m.slashdot.org and keep reading!

 



Forgot your password?
typodupeerror
Trust the World's Fastest VPN with Your Internet Security & Freedom - A Lifetime Subscription of PureVPN at 88% off. Also, Slashdot's Facebook page has a chat bot now. Message it for stories and more. ×

Submission + - New federal database will track Americans' credit ratings, other financial info (washingtonexaminer.com)

schwit1 writes: As many as 227 million Americans may be compelled to disclose intimate details of their families and financial lives — including their Social Security numbers — in a new national database being assembled by two federal agencies.

The Federal Housing Finance Agency and the Consumer Financial Protection Bureau posted an April 16 Federal Register notice of an expansion of their joint National Mortgage Database Program to include personally identifiable information that reveals actual users, a reversal of previously stated policy.

FHFA will manage the database and share it with CFPB. A CFPB internal planning document for 2013-17 describes the bureau as monitoring 95 percent of all mortgage transactions.

FHFA officials claim the database is essential to conducting a monthly mortgage survey required by the Housing and Economic Recovery Act of 2008 and to help it prepare an annual report for Congress.


This discussion was created for logged-in users only, but now has been archived. No new comments can be posted.

New federal database will track Americans' credit ratings, other financial info

Comments Filter:

The superior man understands what is right; the inferior man understands what will sell. -- Confucius

Working...